One of Brisbane’s last large riverfront sites is about to be reborn. The Queensland Government has selected Lendlease as its preferred Master Development Partner to transform the former Visy glass factory on the South Brisbane riverfront into a major mixed use precinct, bringing more than 4,000 new homes and a stretch of public parkland to a 7.1 hectare site that has been closed to the public for generations.
The site sits in a remarkable position, between South Bank and West End and just 1.3 kilometres from the Brisbane CBD, with a long frontage to the Brisbane River. Lendlease’s precinct would weave that riverfront back into the city through new promenades and boardwalks, plazas, amphitheatre style spaces, parkland and shared walking and cycling routes, with about 1.2 hectares of new public open space. As one of Brisbane’s last remaining industrial riverfront sites, it is the kind of once in a generation renewal opportunity that rarely comes up so close to the centre of a capital city.
The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane’s most significant riverfront locations, deliver thousands of much needed homes, and create long term legacy.
Claire Johnston, CEO Development, Lendlease
The numbers are substantial. The precinct is expected to support more than 3,000 jobs across planning, construction and ongoing operations, and Lendlease has committed to delivering the key public spaces and a first stage of around 800 apartments ahead of the 2032 Olympic and Paralympic Games, with early works anticipated to begin in April 2027. The intent is a destination that feels alive from day one rather than a building site that locals must wait a decade to enjoy.
Lendlease is no stranger to work of this scale. The developer has operated in Queensland for more than 70 years and is the team behind Sydney’s Barangaroo, one of the most ambitious waterfront regeneration projects in the country. That track record matters on a site this prominent, where the difference between an ordinary apartment estate and a genuine piece of city comes down to execution.
In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane’s growth and how people experience the city for decades to come.
Claire Johnston, CEO Development, Lendlease
There is one notable silence in the announcement, and it is worth flagging for readers. The State bought the Visy glass factory from the company in 2022 for $165 million, originally intending to use it as a broadcast centre for the 2032 Games before that plan was scrapped in the new government’s 100 day review.
When the Lendlease deal was unveiled, the Deputy Premier and the developer would not say whether the public land had been sold or gifted, whether any of it would stay in public hands, or what Lendlease is paying, citing commercial in confidence. Pressed on whether those details should be made public, Mr Bleijie replied simply, “Does it matter?” The ABC and others have rightly kept asking.
This is exactly the type of large scale, city shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world class public spaces.
Claire Johnston, CEO Development, Lendlease
The Visy precinct is also not happening in isolation. A short walk upriver on the Kurilpa Peninsula, developer Stockwell has consolidated the former Parmalat milk factory site on Montague Road, the recently announced centrepiece of a roughly five hectare masterplan that is reported to include around twelve towers, a mix of owner occupier and build to rent housing, a 400 room hotel and a hospitality and entertainment quarter of close to 200 venues, also positioned for 2032.
Between Lendlease at the old Visy site and Stockwell at the old Parmalat site, this single bend of the river is on track to gain many thousands of new homes within a few years of each other. For a city that desperately needs housing, that is genuinely good news.
Project Rundown
| Development Parameter | Proposed Development |
|---|---|
| Project Name | Former Visy site, South Brisbane riverfront precinct (“a new South Bank”) |
| Location | Former Visy glass factory, South Brisbane riverfront, between South Bank and West End, about 1.3 km from the Brisbane CBD |
| Site Area | Approximately 7.1 hectares of riverfront land |
| Development Type | Mixed use riverfront precinct (residential led, with extensive public open space) |
| Homes | More than 4,000 dwellings of a diverse mix; first stage of about 800 apartments |
| Public Realm | About 1.2 hectares of public open space; riverfront promenades and boardwalks, plazas, amphitheatre style spaces, parkland and shared walking and cycling routes |
| Jobs | More than 3,000 across planning, construction and operations |
| Project Value | Not disclosed (the Queensland Government has not released the sale, lease or partnership terms) |
| Land History | Bought by the State from Visy in 2022 for $165 million; once earmarked as a 2032 Games broadcast centre before that plan was scrapped |
| Sustainability | Urban renewal of one of Brisbane’s last industrial riverfront sites; about 1.2 hectares of new public open space; riverfront promenades and shared pedestrian and cycling routes that encourage active transport. Energy, water and green building targets are yet to be released. |
| Status | Lendlease selected as preferred Master Development Partner, announced 25 June 2026; early works anticipated April 2027; first homes and public spaces targeted before the 2032 Games |
| Master Development Partner | Lendlease |
| Government Partner | Queensland Government, through Economic Development Queensland (EDQ) |
| Tender | Run by EDQ; more than 80 expressions of interest received |
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hi make sure you don’t disappoint this would be epic
With this many buildings has anyone really planned for the traffic congestion that will eventuate? Two lane Montague road is already becoming congested with no alternatives? Building profit takes priority but without planning for the impacts, it maybe great for visitors to the area but not so the existing and future residents. Let’s see a traffic management plan too!
Public land handed in to the billionaires 🙁
With a non-corrupt Queensland Government this project would be 4000 rent-to-buy units, only available to australian citizens home owners, not investors.
This looks absolutely amazing. Hopefully there will be a variety of homes/units for all price ranges. Even better if they don’t put in car garages and make people ride push bikes or walk into the CBD, making it car free and sustainable would be awesome. Maybe included bicycle storage facilities in the complexes as well as dog grooming areas. Would Love to see small business in the ground floor shops instead of the usual big conglomerates. Well hopefully everyone will win by this development which is long over due and that’s why I love things like the Olympic Games it’s always surprising how it brings out all of this dough/investments from nowhere. But I suppose that we will all go broke like all the other cities that have held the games.
What a fantastic project! This will be a great outcome for South Brisbane and West End if delivered successfully!
Please…Carparking!!!!! green space! No ugly concrete designs. Do something incredible, develop something different at this space. Everytime I look at Newstead I think it looks like total rubbish don’t repeat it in this incredible location.
Two word: Fuck yes
This looks like a great project, but it is important to disclose how was the agreement between the QLD government and Lendlease, more people around means that an upgrade on riverwalk paths and connection around the Queensland Cultural Centre MUST be considered and included.
1.2 H of park for 4,000 units equates to 3 m2 of park / unit. This is very low ! An acceptable standard of park provision would be 2-3 H/ 1000 residents. The proposed population of 8000 people would require 16 H of park provision!Have they completed an open space demand study to substantiate this small park allocation?!
this is on a major thoroughfare for bikes – looks like will be pedestrians vs bikes – nightmare….